Overview
If you own a business, the annual audit can sometimes feel like a time–consuming and expensive process that only benefits the statutory authorities. We make sure all your onerous reporting requirements are met as painlessly as possible— keeping banks, creditors, finance providers, and even the inland revenue, happy.
But more than that — we aim to offer you the kind of business advice that could help you run your company efficiently and cost-effectively. We also offer expert corporate tax planning advice, to make sure you're as tax-efficient as possible.
Audit
Auditing Firms Delhi can test your performance against industry standards, even against your direct competitors. We'll review your accounts department and the control measures you currently use, recommending ways to improve. We might discover that your competitors are receiving payment more quickly than you, your stock levels might be higher than the industry norm, or perhaps your company takes longer than average to complete orders.
Internal Audit
Internal Audit is an independent and objective function within an organization that evaluates and improves
the effectiveness of operations, risk management, internal controls, and governance processes. It provides assurance to management
and the board, while also offering recommendations that add value and support achievement of organizational goals.
1. Scope and Objectives of Internal Audit
According to AAS-6, the Internal Control System includes all policies and procedures designed to:
- Ensure orderly conduct of business
- Maintain accurate and complete accounting records
- Enable timely preparation of financial information
- Safeguard assets
- Detect and prevent frauds or errors
Internal Audit acts as a key element of internal control, focusing on whether these controls are well designed and effectively implemented.
2. Internal Audit Framework
- Formal Charter – Defined terms of reference approved by the board.
- Reporting Structure – Head of Internal Audit reports directly to Audit Committee.
- Detailed Testing – Audit should cover all areas outlined in the charter.
- Competency – Team should have cross-domain expertise.
- Liaison with External Auditors – To ensure complementary coverage.
3. Relationship Between Internal and External Audit
As per AAS-7, external auditors may rely on Internal Audit work after evaluating its quality and relevance.
4. Evaluating Internal Audit Function
External auditors assess Internal Audit effectiveness through:
- Organizational Status
- Scope of Function
- Technical Competence
- Professional Care
Why Choose Our Internal Audit Services?
- Risk-based approach focused on client objectives
- Aligned with international audit standards
- Value-driven solutions beyond compliance
- Specialized expertise across industries
- Forward-looking insights for better governance
Service Tax Audit
We provide end-to-end support in Service Tax Audits, ensuring documentation, compliance, and representation before authorities.